3 Key Pillars to Start a Home Based Business

These days it is not always possible to live on one income; one paycheck. When you have a family and mouths to feed you need another income. For many people this means having a home based business.

A home based business helps you generate an additional income and allows you to be close to your family. Especially the kids. Many times you need to help you. They might be sick and need to stay home.

A home based business also saves lot on traveling. You do not need to travel all the time. Commuting to work might be a walking to the room next door. You do need to go to work. Get up. Dress. And go to work! This is a habit.

Do not go watch TV and get too side tracked when you work from home. It is still your business and you need to make it work. Work is the keyword here. It is work!

There are many advantages of running a home based business. You do need to realize it is still a business. For this reason you need to run it like one. There is work involved. This blog is about giving you some practical advice on running a home based business.

In my experience there are 3 core pillars for a solid home based business. If these pillars are not there your home business will not work.

Pillar #1: It must have minimal start up cost: Success in business is about keeping a tight rein on your expenses. This is especially true when you start up. Keep it as low as possible. I know you believe you will make money quickly. Thing is; it does not always work out that way. Keeping start up costs low allows you to have more money in the bank or have money to invest in marketing your business.

Pillar #2: It must be easy to set up and maintain: Do not over complicate it. Keep it basic. Easy to maintain. In our digital age it might mean having a basic laptop and internet connection. Technology allows you to do this.

Pillar #3: It must have a quick return on investment. (ROI): Work on making profit. Have a good return on your investment. This investment is your capital and your time. Your time is valuable. Yes, in the beginning you spend a LOT more time in getting it going.